Colony Bankcorp Announces First Quarter Results
Colony Bankcorp Inc. (Nasdaq:CBAN) Friday reported net income of $814,000, or $0.10 per diluted share for the first quarter of 2014 compared to $567,000, or $0.07 per diluted share for the same quarter in 2013.
Bank officials credited an increase in net interest income and a reduction in provision for loan losses.
“We are pleased to report first quarter operating results that reflect significant improvement in core earnings and strong regulatory capital,” said Ed Loomis, president and chief executive officer. “While loan demand is still less than robust, we continue to see signs of economic recovery that should result in loan activity picking up.”
Loomis said several transactions pending in the second quarter should further reduce the bank’s problem assets.
Colony Bankcorp Inc., headquartered in Fitzgerald, has offices in 29 Georgia cities, including Savannah.
Kroger ratifies agreements with UFCW Local 1996
ATLANTA — The Kroger Co.’s (NYSE: KR) Atlanta Division employees have ratified new labor agreements with UFCW Local 1996.
“We are pleased to reach agreements that are good for our associates. These agreements provide wage increases, affordable health care and a stable pension fund to support our associates’ retirement,” said Bruce Lucia, president of Kroger’s Atlanta Division. “These agreements come after thoughtful and productive work by both the company and union bargaining committees. I want to thank our associates for supporting these agreements and for the excellent service they provide to our customers every day.”
The contracts cover 23,598 associates working in 163 stores in the Atlanta area and 12 in Savannah.
M/WBE meeting to be held April 23
A meeting about the M/WBE program and city of Savannah procurement will be held at 6 p.m. Tuesday, April 23, in the Savannah Civic Center Ballroom.
Local minority and women-owned business owners are invited to attend. City staff will be present to address questions regarding the M/WBE program and the city’s procurement process.
For more information, call 912-651-6410.
Business connection set for April 29
Savannah Area Chamber and LaunchSAVANNAH will hold the Ships of the Sea Business Connection networking event from 5:30-7:30 p.m. April 29 at the Ships of the Sea Maritime Museum, 41 Martin Luther King Jr. Blvd.
Food will be provided by Bojangles, live entertainment by 2ToneFish. No RSVP is required.
Cost is $10 for Chamber members, $25 for guests and $10 for LaunchSAVANNAH members.
For more information, contact Stephanie Boaen at SBoaen@SavannahChamber.com or 912-644-6458 or Drew Hunt at launchsavannah@savannahchamber.com or 912-644-6422.
